Govt to increase efforts to reignite SA economy

President Jacob Zuma says there needs to be extra effort to reignite the economy in 2018, adding it will include radical economic transformation.

Picture: EWN.

JOHANNESBURG – President Jacob Zuma says government notes that the country has emerged from a technical recession and South Africa’s GDP has begun to see welcome improvements.

In his New Year’s message, the president says there needs to be extra effort to reignite the economy in 2018, adding it will include radical economic transformation.

“On the economic front, following a turbulent 2017, we are pleased that we emerged from the technical recession. The country’s GDP began to show welcome improvements. In the new year, we will need to put extra effort together, to reignite the economy and promote growth and also to make it inclusive and beneficial to all.”

Zuma says while extra attention needs to be focused on the economy to promote growth, it needs to be inclusive and beneficial to all.

He says despite economic challenges, substantial progress has been made in providing basic services such as electricity, housing and health care.

It will be accompanied by the industrial policy action plan and other programmes, to promote growth and investment.